NOTE 8. Leases
Operating Leases:
The GSA negotiates long-term office space leases and levies rent charges, paid by the USPTO, approximate to commercial rental rates. These operating lease agreements for the USPTO's office buildings expire at various dates between FY 2005 and FY 2023. During the years ended September 30, 2004 and 2003, the USPTO paid $74,521 thousand and $65,358 thousand, respectively, to the GSA for rent.
Under existing commitments, the future minimum lease payments as of September 30, 2004 are as follows:
| Fiscal Year | Minimum Payment |
|---|---|
| 2005 | $ 69,324 |
| 2006 | 61,943 |
| 2007 | 59,088 |
| 2008 | 55,806 |
| 2009 | 55,253 |
| Thereafter | 773,545 |
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| Total Future Minimum Lease Payments | $1,074,959 |
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The commitments shown above relate primarily to the new operating lease for the USPTO headquarters in Alexandria, Virginia, beginning in fiscal year 2004 and extending to fiscal year 2023. The operating lease commitments for USPTO offices in Arlington, Virginia, will expire in fiscal year 2008.
